manufactured equal units sold C) total variable costs remain the same over the relevant range D) total fixed costs remain the same over the relevant range Answer: C Diff: 2 Terms: cost-volume-profit (CVP) Objective: 1 AACSB: Reflective thinking 4) Which of the following items is NOT an assumption of CVP analysis? A) Total costs can be divided into a fixed component and a component that is variable with respect to the level of output. B) When graphed‚ total costs curve upward. C) The unit-selling
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Assignments from the Readings Week 2 CHAPTER 7: EXERCISE E7-2 (PAGE 349) Culotti’s Pizza operates strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the counter‚ the customers can see other employees making the pizzas and the large ovens in which the pizzas are baked. Instructions: Identify the six principles of internal control and give and example of each principle that you might observe when picking up your pizza.
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from cost of goods sold: 1‚800‚000 – 1‚080‚000= 720‚000 Operating expense (90‚000 fixed): Take the previous units operating expense and subtract from the 90‚000 fixed: 410‚000-90‚000= 320‚000 Take 320‚000 divide by number of units 80‚000= 4 Multiply 4 by 90‚000 units= 360‚000 Take 360‚000 + 90‚000= 450‚000 Operating income: Subtract gross profit on sales from operating expense: 720‚000- 450‚000= 270‚000 Income Taxes (30% of operating income): Take operating income times .30: 270‚000*
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Name of student:_________________ 9 Activity-Based Costing Review Question Answers 9-4 It will require more work. Significant amounts of indirect costs are allocated using only one or two cost pools. All or most costs are identified as output unit-level costs. Products make diverse demands on resources because of differences in volume‚ process steps‚ batch size‚ or complexity. Products that a company is well suited to make and sell show small profits while products for which a company is
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Springfield Express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: Number of seats per passenger train car 90 Average load factor (percentage of seats filled) 70% Average full passenger fare $ 160 Average variable cost per passenger $ 70 Fixed operating cost
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References: (please add your references and have your part cited correctly) Davis‚ T. R. V.‚ & Darling‚ B. L. (1996). ABC in a virtual corporation. Management Accounting‚ 78(4)‚ 18-18. Retrieved from http://search.proquest.com/docview/229765917?accountid=35812 Kimmel‚ P. D.‚ Weygandt‚ J. J.‚ & Kieso‚ D. E. (2009). Accounting Tools for Business Decision Making (3rd ed.). Hoboken‚ NJ: John Wiley & Sons Inc. BYP17-5 In
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2 What are the advantages and disadvantages of using the cost of each print as a manufacturing overhead cost driver? 3 Using the information on the next page‚ compute and interpret the predetermined manufacturing overhead rate for Wall Décor. 4 Compute the product cost for the following three items. (a) Lance Armstrong unframed print (base cost of print $12). (b) John Elway print in steel frame‚ no mat (base cost of print $16). (c) Lambeau Field print in wood frame with mat (base cost of
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can: 3.1 Use communication systems to promote partnership working 3.2 Compare the effectiveness of different communications systems for partnership working 3.3 Propose improvements to communication systems for partnership working Learning outcome 4 4. Be able to use systems for effective information management The learner can: 4.1 Explain legal and ethical tensions between maintaining confidentiality and sharing information 4.2 Analyse the essential features of information sharing agreements
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ACC 444 Exam 1 Guide Summary of Questions (approximate): Topic # Multiple Choice Questions (2 pts each) Total Points Business Process Overview 9 Computer Fraud & Abuse 16 Internal Control Systems 25 Total # questions 50 100 Study Guide While there couldbe questions from other topics discussed in class‚ themain emphasis will be on the following subject matter: Business Process Overview The “transaction cycles” approach The data processing model Computer
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established in commercial law. What does "prudence" mean in an accounting context? a. Reliability b. Comparability Selected: c. ConservatismThis answer is correct. d. Relevance In context of accounting "prudence" means Conservatism. /1 1/1 Question 4 By what title are professional accountants in Mexico known? a. Certified Public Accountant (CPA) b. Chartered Accountant (CA) Selected: c. Contador Publico Certificado (CPC)This answer is correct. d. Mexican Certified Public Accountant (MCPA) In Mexico
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